Positioning Your Farm Business for Successful Transition
F&M Bank actively supports local farmers throughout Virginia and we are forever hoping to connect our communities with resources that make a difference. Virginia Cooperative Extension is hosting an informative workshop to help local farmers seeking to transition ownership to the next generation. See registration details in their press release below.
Positioning Your Farm Business for Successful Transition
With most farms in Virginia being family owned and operated, it is very important to take the time to discuss the future. Please mark your calendars to join us at one of four locations across the state for an interactive workshop the week of February 20-23, 2023 to join Dick Wittman of Wittman Consulting. Dick has worked for Farm Credit Administration, successfully managed and transitioned his family’s multi-generation farm/ranch, helped family farm businesses as a consultant for three decades, and authored a guidebook titled Building Effective Farm Management Systems.
This workshop will be of interest for folks who are facing many different scenarios when it comes to transition. Some farms hope to transition ownership and management to next generation successors. But what if the successors have limited or no capital and want to work on the farm, hoping to assume ownership later. How do you as owners get “out of the way” but “not go away?”. What if your successors don’t want to work on the farm, but they don’t want you to sell their heritage? Come prepared to look at transition strategies that can be adapted to a multitude of scenarios. A case study workshop will immerse participants in real-world transition scenarios that will provide take home experience and build confidence in how to move forward.
Taking the time to discuss your wishes and plans for the future of your land can be hard but is very important and we hope you will take the time to join us with your family/business partners. Registration is open for the following dates and locations, register here: https://tinyurl.com/2023vafarmtransition. Cost for one attendee is $35 and additional family/business partners are $10/person. This full day workshop will start with registration at 8am and run until 3pm.
Monday, February 20, 2023 – Culpeper County, Brandy Station VFD, Brandy Station, VA
Tuesday, February 21, 2023 – Wythe County, APEX, Wytheville, VA
Wednesday, February 22, 2023 – Augusta County, Blue Ridge Community College, Weyers Cave, VA
Thursday, February 23, 2023 – Dinwiddie County, Eastside Community Enhancement Center, Petersburg, VA
If you have any questions please contact Crysti Hopkins 540-967-3422 hcrysti2@vt.edu or Rachel Henley 804-598-5640 rachelhenley@vt.edu.
Press release shared by Virginia Tech and Virginia Cooperative Extension 1/4/2023.
